Public Funding Opportunities


   Ann Livingston – Boulder County Sustainability Coordinator
Boulder County and Partners:
   Better Buildings Grant



 Energy Efficiency Finance Summit
         August 4, 2010
Better Buildings Grant
   Department of Energy
   $25 Million, 3 years
   Boulder County, Denver, Garfield County,
    ...
Better Buildings Grant:
Finance
   $2.3 Million for micro loans
       Boulder County only
       $500-3,000 per proper...
Climate Smart Loan Program Basics


   Energy efficiency and renewable energy (RE/EE)
    measures
   Countywide pool of...
Eligible Measures
   Fixtures to property
   Numerous measures allowed to meet different needs and
    desires (40+ in r...
Residential Loan Size & Terms
   15 year loans
   Minimum: $3,000 per home
   Maximum:
       Open Loans (funded by ta...
Commercial Loan Size &
Terms
   Loan size
       $3,000 minimum per property
       $210,000 or 20% of statutory actual...
Status
   Environmental and economic focus (NREL
    study)
   Local investment opportunity
   Collaborations, includin...
Contact Information


           Ann Livingston, J.D.
 Boulder County Sustainability Coordinator

      Alivingston@boulde...
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Colorado Finance Summit: Ann Livingston, Boulder County Sustainability Coordinator

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Ann Livingston is the Boulder County Sustainability Coordinator. She discusses public funding opportunities around energy efficiency retrofits.

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Colorado Finance Summit: Ann Livingston, Boulder County Sustainability Coordinator

  1. 1. Public Funding Opportunities Ann Livingston – Boulder County Sustainability Coordinator
  2. 2. Boulder County and Partners: Better Buildings Grant Energy Efficiency Finance Summit August 4, 2010
  3. 3. Better Buildings Grant  Department of Energy  $25 Million, 3 years  Boulder County, Denver, Garfield County, Denver Regional Council of Governments, and Metro Mayors Caucus with assistance from the Governors Energy Office  Access to Information, Services, and Finance  Holistic approach Quic kT ime™ a n d a TIFF (L ZW) de co mpre s so r e ne ed ed to se e this p ict ure .
  4. 4. Better Buildings Grant: Finance  $2.3 Million for micro loans  Boulder County only  $500-3,000 per property  3 year revolving pool  $8 Million in credit enhancements  Intended largely for PACE programs, but flexible  Boulder County, Denver, and Garfield County get priority use  Can include private sector partnerships  Debt service reserve funds, loan loss reserve funds, and other Quic kT ime™ a n d a TIFF (L ZW) de co mpre s so r e ne ed ed to se e this p ict ure .
  5. 5. Climate Smart Loan Program Basics  Energy efficiency and renewable energy (RE/EE) measures  Countywide pool of funds obtained through sale of bonds--after origination and before work  Up to the full upfront cost of improvements is loaned  Property owners opt in (minimal general fund allocation)  Special assessment placed on property  Complements rebate and incentive programs  Lender consent required (commercial)
  6. 6. Eligible Measures  Fixtures to property  Numerous measures allowed to meet different needs and desires (40+ in residential and 70+ in commercial)  Useful life must average length of loan or longer under normal conditions (by tranche, not property)  Minimum standards (on eligible measures list)  Attic example: upgrade to R-38 is the minimum value we will cover- -R-50 is ok as well, but R-24 is not  Some items must be part of a package or may only be replacements  Non-conforming projects in commercial program
  7. 7. Residential Loan Size & Terms  15 year loans  Minimum: $3,000 per home  Maximum:  Open Loans (funded by taxable bonds): 20% of statutory actual value of property or $50,000, whichever is less—6.68%, 6.8%  Income Qualified Loans (funded by tax-exempt bonds, 115% AMI): $15,000, as per federal law— 5.2%, 5.8%
  8. 8. Commercial Loan Size & Terms  Loan size  $3,000 minimum per property  $210,000 or 20% of statutory actual value (whichever is less) maximum  Rates estimated at 5-6.5% based on category  Properties currently exempt from payment of property taxes must certify that the loan is no more than 20% of property value  5 or 10 year loan terms (estimated rates 5- 6.5%)
  9. 9. Status  Environmental and economic focus (NREL study)  Local investment opportunity  Collaborations, including private sector  $10M in projects, paid out to almost 300 contractors/vendors/installers  Residential Program on hold  Legislation and litigation  Federal guidelines
  10. 10. Contact Information Ann Livingston, J.D. Boulder County Sustainability Coordinator Alivingston@bouldercounty.org 303.441.3517

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